Trader Update -data point 6 September 2011-

Market Internals:

VIX Close_33.92 Friday 02 September 2011 still indicating a nervous market
VIX Close_< 31 first cautious signal the market ready to continue the bull trend
VIX < 29.3 a strong positve for the market

Trader Update:

Hedged *1378 

...US markets closed Monday 5 September 2011 - SPX 500 futures continued the decline to the *1136 level - trading below or a Close below *1136 signals weakness with risks high for more downside to challenge current *1114 - potential to move lower to challenge the *1103 bullmarket level
...expectations are, the bullmarket to continue and intraday breaks below *1103 all the way down to the August 27 Low *1066 seen as a medium term buying opportunity

Kind Regards